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§ 12-112. Holders in due course

West's Annotated Code of MarylandCommercial LawEffective: January 1, 2019

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 1. Interest and Usury (Refs & Annos)
Effective: January 1, 2019
MD Code, Commercial Law, § 12-112
§ 12-112. Holders in due course
(a) This section does not apply to a loan subject to § 12-114.1 of this subtitle.
(b) A claim or plea of usury is not available against a legal or equitable assignee, endorsee, or transferee of any bond, draft, mortgage, deed of trust, security agreement, promissory note, or other instrument or evidence of indebtedness, if he receives it for a bona fide and legal consideration without notice of any usury in its creation or subsequent assignment.

Credits

Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 2018, c. 732, § 2, eff. Jan. 1, 2019; Acts 2018, c. 790, § 1, eff. Jan. 1, 2019.
Formerly Art. 49, § 9.
MD Code, Commercial Law, § 12-112, MD COML § 12-112
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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